Unblocking capital flow, spreading sharing: Agribank Insurance's journey of responsibility

Insurance packages such as Credit Security, Pet Insurance, Crop Insurance, etc. are not only simple business products but also tools to share risks and support people to overcome difficulties caused by natural disasters, epidemics, and economic fluctuations.

Mission to accompany farmers and rural areas

Throughout its development journey, Agribank Insurance (ABIC) has chosen a challenging but meaningful path: taking root in the agricultural, farmers and rural areas. While many other insurance companies target the urban market, ABIC proactively seeks out remote areas where people lack financial and insurance services.

According to ABIC leaders: Since its establishment, ABIC has clearly defined its mission to accompany Agribank in protecting borrowers, helping them feel secure in investing and producing. Insurance packages such as Credit Security, livestock insurance, crop insurance, etc. are not only simple business products but also tools to share risks, supporting people to overcome difficulties caused by natural disasters, epidemics, and economic fluctuations.

In addition, ABIC also contributes to stabilizing social security and reducing the budget burden in supporting victims of natural disasters. Each insurance contract signed is a practical action to strengthen people's trust, protect capital flows and ensure the ability to reinvest, which is extremely important in the context of farmers often facing risks.

Furthermore, the fact that credit guarantee contracts have become a plus point in the loan approval process at Agribank has helped people access credit more easily. In case of unfortunate risks, ABIC will pay the debt to the bank on behalf of the borrower, while maintaining the customer's credit rating - a key factor in being able to continue borrowing in the future.

To better implement its mission, ABIC has continuously expanded its scale of operations. With a network of tens of thousands of agents and smooth coordination with more than 2,300 transaction points of Agribank, ABIC's insurance products are increasingly closer to people across the country. Thereby, this enterprise has been contributing to the sustainable development of the agricultural and rural areas.

Thanks to its extensive presence and sound strategy, Agribank Insurance has served more than 3 million farming households and small businesses, with nearly 2 million customers participating in credit insurance - most of whom are farmers, fishermen, and salt farmers. To date, ABIC has resolved nearly 300,000 insurance applications with a total payout of more than VND 6,000 billion, creating conditions for hundreds of thousands of households to reinvest, restore production, and stabilize their lives.

Pioneer in digital transformation and agricultural insurance

ABIC leaders said: In addition to the achievements in the traditional insurance sector, ABIC also affirms its pioneering role in the digital transformation process. In the era of strong technology explosion, this enterprise not only keeps up with the trend but also proactively leads the change.

One of the important steps forward of ABIC is the application of Base.vn enterprise management platform. Thanks to that, the entire operating system is optimized, work coordination efficiency is enhanced, labor productivity is significantly improved and transparency in internal management is enhanced.

One of the important steps of ABIC is the application of Base.vn enterprise management platform.

In addition, ABIC has continuously expanded its online sales channels, built a digital insurance ecosystem, and promoted the application of technology in customer data management. Thanks to that, people in rural areas - where it is difficult to access financial services - can now access insurance services more easily than ever.

In particular, the Credit Security product – life and health insurance for borrowers – is considered the most typical success of ABIC in the non-life insurance sector. Thanks to the distribution through Agribank’s network, this product has quickly covered the whole country, contributing to changing the face of agricultural insurance in Vietnam.

In addition, ABIC also participates in many practical agricultural insurance programs such as insurance for rice, livestock, and long-term industrial crops. These products play a major role in preventing risks, minimizing damage caused by natural disasters and epidemics, and at the same time creating motivation for farmers to continue investing and producing sustainably.

Successful models on the ground, from rice fields in the Mekong Delta to high-tech farms in the North, all show the clear effectiveness of the combination of credit, insurance and agricultural production. It is not only an effective cooperation but also a long-term strategy for the development of modern and sustainable Vietnamese agriculture.

ABIC aims to build a community of businesses that continuously learn.

Not only expanding services or digitizing systems, ABIC leaders said: This unit also aims to build a community of businesses that continuously learn. Through participating in specialized seminars and in-depth discussions organized by agencies, associations and financial and banking organizations, ABIC always updates new trends, approaches advanced business models and shares experiences with domestic and foreign experts.

That has helped ABIC improve the quality of human resources, perfect business processes, develop products suitable to market practices and increase competitiveness. Above all, ABIC is gradually realizing the goal of becoming a leading digital insurance company, operating effectively, transparently and customer-oriented.

"With the determination to develop safely, effectively and sustainably, Agribank Insurance commits to continue to accompany customers, partners and the community. On that journey of innovation, ABIC will continue to be a trusted companion of farmers, workers and small businesses - those who are contributing to the common prosperity of the country every day", ABIC representative committed.

Mr. Minh

Source: https://baochinhphu.vn/khoi-thong-dong-von-lan-toa-se-chia-hanh-trinh-trach-nhiem-cua-bao-hiem-agribank-102250506181219478.htm